Sesnie Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are expected to occur: (Click the icon to view the expected transactions.) Requirement Prepare a combined cash budget for Sesnie Health Center for the third quarter, with a column for each month and for the quarter total. (if an input fieid is not used in the table leave the input field empty; do not enter a zero. Use parentheses or a minus sign for negative ending cash balances.) a. Cash collections from services in July. August, and September, are projected to be $93,000,$152,000, and $122,000 respectively, b. Cash payments for the upcoming third quarter are projected to be $148,000 in July, $101,000 in August, and $134,000 in Seplember c. The cash balance as of the first day of the third quarter is projected to be $38,000. d. The health center has a policy that it must maintain a minimum cash balance of $27,000. The health center has a line of credit with the local bank that allows it to borrow funds in months that it would not otherwise have its minimum balance. If the company has more than its minimum balance at the end of any given month, it uses the excess funds to pay off any outstanding Ine of credit balance. Each month, Sesnie Health Center pays interest on the prior month's line of credit ending balance. The actual interest rate that the health center will pay floats since it is tied to the prime rate. However, the interest paid during the budget period is expected to bo 3% of the prior month's line of credit ending balance of the compary did not have an outstanding balance at the end of the prior month, then the health center does not have to pay any interest). All tine of credit borrowings are taken by the ond of the month (when the the cash balance has not met its minimeim balance), or paid off by the end of the month (when the cash balance is sufficient). As of the first day of the third quarter, Sesnie Health Center did not have a batance on its line of credit. Sesnie Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are Combined Cash Budget For the Months of July through September Beginning balance of cash Plus: Cash collections Total cash avaiable Less: Cath payments Ending cash balance before financing Financing: Plus: Naw borrowings Less: Debt repayments Less: Interest payments Ending cash balance Sesnie Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are expected to occur: (Click the icon to view the expected transactions.) Requirement Prepare a combined cash budget for Sesnie Health Center for the third quarter, with a column for each month and for the quarter total. (if an input fieid is not used in the table leave the input field empty; do not enter a zero. Use parentheses or a minus sign for negative ending cash balances.) a. Cash collections from services in July. August, and September, are projected to be $93,000,$152,000, and $122,000 respectively, b. Cash payments for the upcoming third quarter are projected to be $148,000 in July, $101,000 in August, and $134,000 in Seplember c. The cash balance as of the first day of the third quarter is projected to be $38,000. d. The health center has a policy that it must maintain a minimum cash balance of $27,000. The health center has a line of credit with the local bank that allows it to borrow funds in months that it would not otherwise have its minimum balance. If the company has more than its minimum balance at the end of any given month, it uses the excess funds to pay off any outstanding Ine of credit balance. Each month, Sesnie Health Center pays interest on the prior month's line of credit ending balance. The actual interest rate that the health center will pay floats since it is tied to the prime rate. However, the interest paid during the budget period is expected to bo 3% of the prior month's line of credit ending balance of the compary did not have an outstanding balance at the end of the prior month, then the health center does not have to pay any interest). All tine of credit borrowings are taken by the ond of the month (when the the cash balance has not met its minimeim balance), or paid off by the end of the month (when the cash balance is sufficient). As of the first day of the third quarter, Sesnie Health Center did not have a batance on its line of credit. Sesnie Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are Combined Cash Budget For the Months of July through September Beginning balance of cash Plus: Cash collections Total cash avaiable Less: Cath payments Ending cash balance before financing Financing: Plus: Naw borrowings Less: Debt repayments Less: Interest payments Ending cash balance
